The National Flood Insurance Program (NFIP) was developed in 1968 to assist homeowners in the event a flood causes destruction to the home.
To ensure the program did not take on unnecessary risks, one of the key requirements to participate in the program was that communities had to adopt standards for new construction and development.
Pre-existing homes and businesses, though, could remain as they were. Owners of many of these older properties could obtain insurance at lower, subsidized, rates that did not reflect the property’s real risk. In addition, as the initial flood risk identified by the NFIP has been updated over the years, many homes and businesses in areas where the revised risk was determined to be higher have also received discounted rates. This “Grandfathering” approach prevented rate increases for existing properties when the flood risk in their area increased.
Today, flood risks continue and the costs and consequences of flooding are increasing dramatically. In 2012, Congress passed legislation to make the National Flood Insurance Program more sustainable and financially sound over the long term.
To learn more about the National Flood Insurance Program, please refer to the information below.
FEMA: Frequently Asked Questions
Escambia County map of wetlands, water bodies and Special Flood Hazard Areas (SFHA).
